Where is emission color in Cycles Render Engine
In Cycles Render you find the emissive material by 
a) > Properties Editor > Material > Surface > Use Nodes > Surface Emission or more easily:
b) within the Node Editor by > Shift+A > Shader > Emission. Connect this to the Surface input of the Material Output node.

Or give this Add-On a try:
https://wiki.blender.org/index.php/Extensions:2.6/Py/Scripts/Material/Blender_Cycles_Materials_Converter